Elon Musk Tweets Hertz Yet to Sign Contract with Tesla

The latest tweet by Elon Musk puts the credibility of the Tesla and Hertz deal in question which was highly priced in by investors

In a latest development of Tesla’s deal with Hertz, Elon Musk in a tweet on Monday said Tesla is yet to sign a contract with Hertz. The tweet contradicts to what was earlier announced and advertised by Hertz on October 25.

Tesla encompassed trillion-dollar market capitalization after the deal between Tesla and Hertz was announced.

In a separate tweet earlier on October 26, Elon said, “to be clear, cards sold to hertz have no discount. Same price as to consumers”. This added positive premium to Tesla’s valuation since the automotive industry usually sells vehicles to rental companies at discount to offload excess inventory.

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